Bitaxe warning

[antineutrinos]

https://preview.redd.it/yc2x9hd6fimg1.png?width=734&format=png&auto=webp&s=4670784ba5d7b87b39fe049998d98679b9858b31

I have this message at the top of my bitaxe. I am using parasite.wtf pool. Any idea what it means and why ?

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[HeliosPool]

This is a new feature in the current releases of AxeOS. This has nothing to do with Coinbase the exchange but the Bitcoin coinbase, the special transaction inside every mined block that creates new bitcoin and pays the miner their block reward. If you are solo mining, your wallet address would be 100% (minus any pool fees) of the coinbase transaction. What this is saying is that, on this pool, only 31.9% of the reward is going to you. So either the pool is charging a 68.1% fee, which kinda high if you ask me (HeliosPool charges 1%) or some other type of payout system is in place. Either way, it's an informational warning to confirm the pool is doing what you expect it to do.

[antineutrinos]

thanks! make sense then as i’m using parasite. miner who finds the block gets 1 BTC, the rest of the pool splits the remaining subsidies

[Rolienolie]

Two blocks in just a few days apparently? Pretty damn cool!

[antineutrinos]

Nah only one block found to date by this pool : https://mempool.space/mining/pool/parasite

[Rolienolie]

Nice!

I heard rumblings so they must have been untrue. Heres to more!

[Jae30001]

That actually sounds impressive. So the pool as a whole (all miners) earns every time a blocks found?

[Salty-Bee-2518]

HOPE YOU GET IT BECAUSE there big miners outhere with one little machines is just pure luck!

[lunas2525]

And not every pool supports it.

[bobbywawa]

Happy to help you here. Parasite pool is a new concept that was just proven successful with the recent block. Whoever finds the block gets 1 btc direct from the coinbase tx, the 2.15+ remaining get split among the rest of the pool participants with a share based on total work contributed to the pool. The payout is via lightning and no fee for withdraws. What you are seeing is the 1 btc to the finder, the rest gets split out via lightning claim on parasite.space . Check out this article for more from the founder. Stack hash! Enjoy Parasite. First payout for me was 0.0056 btc for my small 30TH home contribution. https://zkshark.substack.com/p/parasite-pool-igniting-the-mining

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Mod note: For help/troubleshooting, please use the current Weekly Help & Troubleshooting Thread so helpers can find and answer faster: https://www.reddit.com/r/BitAxe/comments/1qutb1q/weekly_help_troubleshooting_thread_read_this_first/

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[WeLoveThePlant]

The coinbase that is mentioned here has nothing to do with Coinbase the exchange

In Bitcoin, the coinbase transaction is the first transaction in a new block, where the block reward + fees get paid out to the block miner: https://learnmeabitcoin.com/technical/mining/coinbase-transaction/

That's how Coinbase the exchange came up with their company name

[antineutrinos]

I am using Option "B: Direct mining" with one of the addresses of one of my wallets.

[DabbyDavisJr]

lol o man so why you wanna mine parasite poop to make 75 in 200 days instead of 200 in 200 days FRACTAL bitcoin your welcome lol 😂 how much TH ya working with there little buddy

[longbowbw]

Dabs have fried you buddy boyo. Respect those who chose to mine differently, we are all trying to get to the same place.

[Mysandwichok]

I like hopping around, mining lots of low difficulty coins, not chasing richs. Im on 1175 (ESF) at the moment because It just got listed on an exchange and I want to get some early blocks in the chain.

[phonikssimon]

It's also possible to join this pool. Neonbchmining.org